Bitcoin is slipping after a study claiming its 2017 bull run was driven by market manipulation

Bitcoin fell 2% on Wednesday after a new academic paper was published claiming bitcoin's price run to December last year was driven by manipulation.
The University of Texas at Austin paper alleges that exchange Bitfinex may have used Tether, a cryptocurrency it is closely linked to, to support the price.
Bitfinex's CEO told BI: "Bitfinex nor Tether is, or has ever, engaged in any sort of market or price manipulation. Tether issuances cannot be used to prop up the price of Bitcoin or any other coin/token on Bitfinex." https://www.investing.com/news/cryptocur...

Bitcoin extended losses, bringing its four-session slide to as much as 20 percent, as questions mount about whether the world’s biggest cryptocurrency was manipulated during last year’s record price surge.

After rallying more than 1,400 percent in 2017 amid an investor frenzy for digital assets, Bitcoin is down almost 70 percent to around $6,238 as of 4:37 p.m. in New York, from its record high of $19,511 set in December. It traded at a few cents after being launched in 2009.

“Things have changed for Bitcoin and the crypto space,” said Craig Erlam, senior market analyst at online trading firm Oanda Corp. in London. “There doesn’t seem to be as much hype, or positive news. Every time we get a negative news story now -- after a period of consolidation -- we don’t see bullish sentiment come in to support it. It’s almost as if people are waiting to sell it.´´ https://www.bloomberg.com/news/articles/...

Bitcoin's tumble continued Wednesday as the popular crypto neared a crucial test of its four-month low amid ongoing selling pressure.
Bitcoin fell 4.51% to $6,240 on the Bitfinex exchange, but had traded as low as $6,107.9 just above its more than four-month low of $6,000 seen in February.
Some crypto observers said that bitcoin's fall to near $6,000 would prove a crucial test of investor appetite for the crypto, warning that a plunge beyond this price level could turn ugly, sending bitcoin sharply lower.
"We keep going down, and we’re testing new lows. Sixty-two-fifty is the next point. If it goes under that, we’re going to test 5,900," Ran Neu-Ner, host of CNBC Africa’s Crypto Trader told CNBC on Tuesday.
Demand for cryptocurrencies including bitcoin is fading quickly as the sharp downturns trigger fresh waves selling of pressure, wiping billions from the crypto market. With no new inflows, cryptos could struggle to regain upward momentum.
The total market cap of cryptocurrencies fell to about $268 billion, at the time of writing, from $282 billion on Tuesday.
Other large-cap cryptos followed bitcoin's sharp move lower. https://www.investing.com/news/cryptocur...

Bitcoin price has broken below one triangle after another as bearish momentum strengthens.
Price is now trading below the descending triangle bottom of $6,700 after previously falling below the symmetrical triangle.
This signals that further losses are underway, but oscillators suggest otherwise.
Bitcoin price keeps tumbling below one support after another, but oscillators signal a possible bounce. https://altcointoday.com/bitcoin-btc-pri...

Bitcoin and Ethereum Won’t Be Regulated As Securities, Says Top U.S. SEC Official

Bitcoin and Ethereum finally got some much-needed news to move their prices higher Thursday, and it came from a key official with the U.S. Securities and Exchange Commission.
William Hinman, the SEC’s head of the Division of Corporate Finance, said that Bitcoin and Ethereum should not be regulated as securities, however other cryptos are likely securities.
Hinman’s announcement is considered to be the official position of the SEC.
For many in the crypto space, this was music to their ears, causing them to buy.
At press time, Bitcoin’s price was up about 5.26%, while Ethereum’s price was up about 8.31%. https://www.investing.com/news/cryptocur...

Kommentar:
News: „Rebound“

Cryptos in Rebound Mode as Bitcoin Rallies

Bitcoin's selloff came to an abrupt halt Thursday as the popular crypto clawed back some of its recent losses.
Bitcoin rose 5.91% to $6,650 on the Bitfinex exchange, after falling to a low of $6,125.70 the previous day.
Some cited positive comments from SEC chief Jay Clayton as one of the catalysts for bitcoin's move higher.
Clayton said that bitcoin and ether are not securities but many, if not all, initial coin offerings, or ICOs, are securities and would fall under the regulatory umbrella of the SEC.
Clayton's comments, however, did not offered any new insight on the regulatory front, as they were consistent with previous remarks made earlier in the year.
Prior to bitcoin's move higher, crypto observers had said that bitcoin's fall to near $6,000 would prove a crucial test of investor appetite, potentially fuelling key support – price levels that trigger buying.
The uptick in bitcoin lured crypto investors back into the crypto space as the total crypto market cap surged more than $20 billion in under 24 hours.
The total market cap of cryptocurrencies rose to about $291 billion, at the time of writing, from $268 billion on Wednesday, sparking a rebound in other large-cap cryptos.
Ripple XRP rose 8.99% to $0.56364 on the Poloniex exchange, while Ethereum rose 10.18% to $519.52.
Bitcoin Cash rose 8.14% to $895.40, while Litecoin rose 10.87% to $102.26. https://www.investing.com/news/cryptocur...

Bitcoin climbed on Thursday, erasing some of its 18 percent plunge since Friday as investors signaled the sell-off may have been overdone.

Hours after the world’s largest cryptocurrency closed at a fresh low for the year, buyers began pushing up the price, which reached $6,483.95 as of 8:49 a.m. in New York. Rival digital tokens Ethereum and Litecoin also gained, while Ripple rose as much as 7.2 percent. https://www.bloomberg.com/news/articles/...